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government not to use their products. chinese foreign ministry spokesperson reacted by saying china's technology firms are co complying with the rules and says u.s. is benefitting from certain products. >>> space exploration has entered the commercial era. a ship built by a u.s. company has blasted off in orbit. the craft is taking over the space shuttles and taking private enterprise where it's never gone before. >> three, two, one. >> reporter: engineers developed the unmanned dragon capsule. they launched it from cape canaveral in florida. it's cruising towards the space station. it's due to dock in three days 400 kilometers above the earth. it's carrying nearly a ton of food and experimental equipment. it's the first private company to handle a supply mission. it's contract with nasa the worth $1.6 billion. 11 more dragons are scheduled to fly. it's now heading toward the international space station but nasa is no longer line in space. china and india are racing to catch up. nasa is now free to focus on its new missio
government not to use their products. chinese foreign ministry spokesperson reacted by saying china's technology firms are co complying with the rules and says u.s. is benefitting from certain products. >>> space exploration has entered the commercial era. a ship built by a u.s. company has blasted off in orbit. the craft is taking over the space shuttles and taking private enterprise where it's never gone before. >> three, two, one. >> reporter: engineers developed the...
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i mean, the level of consistency in governments here is just not feasible. and so really that does limit what can be done in any of these four. look, the longer the g-0 persists the more dangerous. so the persistence of the g-0 does lead to the creation of a new system. this is not a new world order. this is in between. precisely because you can't deal with the middle east conflicts in a g-0 world. you're not dealing with climate effectively in the g-0 world. new things will emerge. looking at the nape of the middle east right now, looking at how deep the european crisis is, how unwilling americans are to look outside their borders today, how much transportation is required within china to main stain stability, how much unwillingness there is in japan to get their own house in order, it's very clear the g-0 will be with us for at least a few more years. >> you're saying smaller governments are better in dealing with the problems that we're facing. at the same time, the problem that we are facing are actually global. we are having this big annual event with w
i mean, the level of consistency in governments here is just not feasible. and so really that does limit what can be done in any of these four. look, the longer the g-0 persists the more dangerous. so the persistence of the g-0 does lead to the creation of a new system. this is not a new world order. this is in between. precisely because you can't deal with the middle east conflicts in a g-0 world. you're not dealing with climate effectively in the g-0 world. new things will emerge. looking at...
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but, the chinese government didn't stop the demonstrations saying the japanese government is responsible. meanwhile -- china is stepping up efforts to promote its territorial claim to a global audience. >> japan stole the island from china in 1895 towards the end of the war. >> japan and china are locked in a confrontation over the island in the east china sea. our beijing correspondent joins us. we understand that the problem over the islands is a serious matter that involves national sovereignty. but what is behind china's fiercer than expected reaction to the nationalization? >> yes, so there is a fundamental difference in japan and china's understanding of the island' issue. china has repeatedly insisted japan agree, during talks to normalize, diplomatic ties 40 years ago and other occasions. but japan added that it made no such agreement and there is no issue of territorial sovereignty to be resolved concerning the island. leaving such differences aside. china wanted japan to at least maintain the -- the status quo. so, for china, japan's purchase of the island, was a major change t
but, the chinese government didn't stop the demonstrations saying the japanese government is responsible. meanwhile -- china is stepping up efforts to promote its territorial claim to a global audience. >> japan stole the island from china in 1895 towards the end of the war. >> japan and china are locked in a confrontation over the island in the east china sea. our beijing correspondent joins us. we understand that the problem over the islands is a serious matter that involves...
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and it's a key area for the government, as well as the bank of japan. they're very wary of the strength of the yen. just having a look at some of the currency levels right now. the dollar/yen, as well as the euro/yen, coming up there on the scre. 78.07-elev 78.0 78.07-11. following on from the currency moves, the focus at nhk world remains on the imf and world bank meetings as well as the g-7 meetings. we're going to have full coverage of day three, and we're looking forward to that. for now, another negative start ford nikkei and the topix. catherine, back to you. >> thanks very much. >>> the operator of japan's crippled nuclear plant says the latest probe shows fuel at the bottom of one of the reactors is being kept cool saying the water level in the containment vessel of reactor one is 2.8 meters, enough to stop the fuel from overheating. the pausch company used an en endoscope to peer inside the vessel at the fukushima daiichi plant. footage from the probe shows the surface of corroded scaffolding and water underneath. tokyo electric says it detecte
and it's a key area for the government, as well as the bank of japan. they're very wary of the strength of the yen. just having a look at some of the currency levels right now. the dollar/yen, as well as the euro/yen, coming up there on the scre. 78.07-elev 78.0 78.07-11. following on from the currency moves, the focus at nhk world remains on the imf and world bank meetings as well as the g-7 meetings. we're going to have full coverage of day three, and we're looking forward to that. for now,...
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but many governments have yet to pass laws enforcing the protocol. some developing countries say they can't afford to implement the policies. the participants in india are expected to discuss how to secure funding to meet the targets agreed in nagoya. >>> australian prime minister julia gillard urged japan to sign a free trade agreement with her country as soon as possible. she said no other fta would be more natural or logical. gillard spoke at a reception in sydney to celebrate the 50th anniversary of the japan/aust rai australia business conference. >> japan is a critically important economic partner for australia and will remain so in the future. but in a dynamic and changing region, it's time to take the next step. it's time to seal the deal on the free trade agreement. >> gillard also referred to regional security issues. she said australia and japan must work together to balance rising asian powers such as china and india. she said she wants to use the g-20 summit and the asia pacific economic cooperation forum to work with japan an security j
but many governments have yet to pass laws enforcing the protocol. some developing countries say they can't afford to implement the policies. the participants in india are expected to discuss how to secure funding to meet the targets agreed in nagoya. >>> australian prime minister julia gillard urged japan to sign a free trade agreement with her country as soon as possible. she said no other fta would be more natural or logical. gillard spoke at a reception in sydney to celebrate the...
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the report says japanese government bonds account for 24% of assets of banks in japan. the institutions could suffer heavy losses if bond prices plummet. banks around the world see japanese and u.s. government bonds as safer assets in the face of the prolonged credit crisis in europe. they snapped up japanese bonds, causing the yen to spike to record levels. imf economists note japan and the united states are facing huge deficits and the countries need to implement fiscal reforms to maintain investor confidence. it also acknowledges a decision by eurozone countries to launch a permanent fund designed to bail out struggling members. they say worries about the health of the region's financial system have increased since the spring with the need to use capital to help troubled banks in spain. >>> greece is one of the struggling eurozone members counting on bailout funds to keep it functioning. international lenders are demanding the country's politicians implement deep spending cuts in return for that aid. angela merkel traveled to athens to urge greek leaders to push ahea
the report says japanese government bonds account for 24% of assets of banks in japan. the institutions could suffer heavy losses if bond prices plummet. banks around the world see japanese and u.s. government bonds as safer assets in the face of the prolonged credit crisis in europe. they snapped up japanese bonds, causing the yen to spike to record levels. imf economists note japan and the united states are facing huge deficits and the countries need to implement fiscal reforms to maintain...
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is to keep the government's bonds safe. and that is something that you do through medium-term fiscal consolidation. so to me, this is of most priority. >> you're also warning that while we see gains from flows in the safe haven assets like u.s. and japanese bonds, we shouldn't be lulled into a false sense of security. what do you see as the biggest danger looming from this? >> well, i think that the biggest danger is that the government, the political actors decide to delay decisions. and i think that confidence is established on a firm ground when it's not. so, for example, in the united states, the message is be careful not to go over the fiscal cliff or to hit the debt ceiling, because that would be very detrimental to the economy and confidence. >> okay. we're still seeing a relatively strong growth in merging markets. how susceptible would you say are they, though, to the global downturn? >> well, they are. if something were to happen in the united states or if there were to be a further escalation of the crisis in the
is to keep the government's bonds safe. and that is something that you do through medium-term fiscal consolidation. so to me, this is of most priority. >> you're also warning that while we see gains from flows in the safe haven assets like u.s. and japanese bonds, we shouldn't be lulled into a false sense of security. what do you see as the biggest danger looming from this? >> well, i think that the biggest danger is that the government, the political actors decide to delay...
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the returns are guaranteed by government donations. the real payoff, though, is seen in countries across the developing world. >> we were able to immunize 325 million children and save more than 5.5 million lives. >> reporter: firms issued the first vaccines in 2006. people in japan were allowed to start buying them two years later. they now account for half of the 60,000 investors worldwide. japanese are interested in the product because they have based low-interest rates on investments for years. but it's more than that. >> translator: i think it's very good because it can raise focus, and it can invest in meaningful activities at the same time. >> i think that conscience of the japanese public is very important to this effort. >> reporter: amy ohno wants to be part of that effort. she's looking forward to the next vaccine vial issuance. she likes the potential reward on her investment. >> translator: i'm home. >> reporter: and she likes the example she's setting for her 11-year-old son, kyohe. >> translator: there are so many childr
the returns are guaranteed by government donations. the real payoff, though, is seen in countries across the developing world. >> we were able to immunize 325 million children and save more than 5.5 million lives. >> reporter: firms issued the first vaccines in 2006. people in japan were allowed to start buying them two years later. they now account for half of the 60,000 investors worldwide. japanese are interested in the product because they have based low-interest rates on...
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they include government officials, experts, and representatives of international organizations. they spent two days talking about the lessons of the march 11, 2011, disaster and subsequent recovery efforts. >> translator: we've learned a lot from our disaster recovery efforts. i believe it's critical for us to share these lessons with people around the world, and i'm making that another personal mission. >> we'll not be able to prevent the natural hazards that threaten people around the world. but working together, we can lower the dangers, prepare better, respond more quickly, lessen the costs, and first and foremost make the lives of people all over the world safer. >> reporter: panel discussions on tuesday focus on disaster preparedness in developing countries. world bank researchers compiled the report on the lessons learned from japan's recent earthquake. they have woven disaster risk management into their culture. schools, offices, and communities hold regular drills to prepare for earthquakes and other events. the panel has recommended people in developing countries adapt
they include government officials, experts, and representatives of international organizations. they spent two days talking about the lessons of the march 11, 2011, disaster and subsequent recovery efforts. >> translator: we've learned a lot from our disaster recovery efforts. i believe it's critical for us to share these lessons with people around the world, and i'm making that another personal mission. >> we'll not be able to prevent the natural hazards that threaten people around...
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government leaders need to tackle what she calls a legacy of high debt. lagarde says they should focus on getting people, particularly young people, back to work, and they should address the imbalances between rich and poor. she says financial leaders need to lift a veil of uncertainty. >>> one of lagarde's deputies says everyone at the imf world bank meetings is focused on uncertainty. our ron madison talked with joo ming to find out what he hopes will come out of this conference. >> which hold the most threat do you think of potentially derailing a fragile economy? >> the current risk number one is still the european crisis. if the crisis intensifies, it can cause skwit a bit of damage for the whole world. we did a study to see if one extreme case, for example, if things go, it could cause roughly 6% of gdp impact itself and roughly 6% for uk collective gdp impact, rough ly 2% for u.s and 2% for japan and china and the rest of the world. so, this is a pretty serious situation. >> we're seeing a slowdown now in china just ahead of the change of leadershi
government leaders need to tackle what she calls a legacy of high debt. lagarde says they should focus on getting people, particularly young people, back to work, and they should address the imbalances between rich and poor. she says financial leaders need to lift a veil of uncertainty. >>> one of lagarde's deputies says everyone at the imf world bank meetings is focused on uncertainty. our ron madison talked with joo ming to find out what he hopes will come out of this conference....